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Whole Foods Packs New Product into 2002 Bag

AUSTIN-New markets and new product will launch in 2002 for Austin-based Whole Foods Markets. Fifteen to 20 stores will open, most likely in a larger version than the current 35,000-sf model, in a rollout that calls for six new cities, including Toronto.

By Tim Green | Updated on November 15, 2001

AUSTIN-Whole Foods Market Inc., confident it will open 15 to 20 stores in the next year, says the black cloud of recession might bring with it the silver lining of lower construction costs.

“We have stores signed and in our pipeline to meet that range and we have confidence it will happen.” says Jim Sud, executive vice president of growth and business development. “We’re starting to see more opportunities in the real estate arena in terms of better pricing, in terms of rent. We’re hopeful that the silver lining in what appears to be a recession will result in lower construction costs.” Six of the new stores will be in new markets: Portland, OR, Kansas City, MO, Toronto, Pittsburgh, Albuquerque and Las Vegas.

Sud and other Whole Foods executives addressed the Austin-based company’s plans Wednesday in a conference call about its financial results. With 130 stores, the company is the largest retailer of natural and organic foods.

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